Type One Energy has secured $200 million in a Series B funding round to advance its fusion energy technology. The round was co-led by Breakthrough Energy Ventures and Clutterbuck Capital, with participation from Lowercarbon Capital, Siemens Energy Ventures, and SiteGround Capital.
The capital will support the FusionDirect development program and Project Infinity, a fusion power plant initiative located at the Tennessee Valley Authority’s Bull Run site. This location previously operated as a coal plant until December 2023.
The company plans to develop Infinity One, a prototype stellarator scheduled for commissioning in 2029. This will be followed by Infinity Two, a 400-megawatt power plant, with a target to supply power to the grid by 2034.
In August 2026, the Tennessee Department of Environment and Conservation granted the state’s first fusion-specific license for the project. Type One Energy intends to sell its technology to power providers rather than operating the plants itself.
The company has established several industrial partnerships, including the UK Infinity Fusion Consortium and an agreement with the Oak Ridge National Laboratory. Prior to this round, Type One had raised over $160 million.
